Cameco Corporation (CCO.TO)

Likes uranium. Had a big plunge after the tsunami and everyone ran away from uranium. Thinks money is coming back in. This one is probably the bellwether and the chart shows a monster base. Thinks it is a must own. (See Top Picks.)

A play on uranium, which has been very slow to pick up post Japanese disaster. Uranium prices are staying around the $45 level. The one positive is that it looks like Japan is going to get their safety standards in place by July of this year. There is no near term catalyst to buy this.

Results at close today. Outlook for uranium sector is brightening. Vertically integrated. Part interest in Bruce. Healthy dividend. Outlook is good given that Japan is spending $100 million per day for not having nuclear plants online. China is building new power plants.

Looks like Japan, under the new Prime Minister, is going to reverse its negative view of the nuclear business. Also, China is ploughing ahead with all of its nuclear programs. $25 in one year.

(Market Call Minute.) Continues to ooze lower. Has had a nice rally but probably because of Uranium One (UUU-T) takeover as much as anything else. Historically cheap and looks okay but still doesn’t see where the momentum is.

Has really been through the wringer over the last couple of years. Technically it seems to be making a bit of a bottom but he is not quite convinced that it is ready to make a run at this point. High beta stock. In the materials space he would rather look at something like Teck Resources (TCK.B-T) or some of the soft agricultural commodities.

Getting their act together. Fundamentals for uranium are improving so he is more positive on this than he was 2 years ago. The small dividend they pay is sustainable and the business is probably turning around but it will take a while.

Things are now looking a little more positive. Recent Japanese elections have brought in and more nuclear friendly government. Globally, the world needs energy and nuclear is one of the more efficient. Future is bright for this company. Cigar Lake mine is coming on. He is looking at this one.

There has been a change in politics in Japan and the new people are in favour of restoring nuclear energy, which they really have to do anyway. China is proceeding with caution. There will be improved qualities in the plants and hopefully this is a long-term positive story.

Japan is starting to say they should go back to nuclear power on a limited basis. It bottomed out which it normally does this time of year and then started an uptrend. Strength is from mid-December until May.

Has been disappointing. He traded it once and is around where he bought it. Thinks there is another leg up on it. Be patient for the winter. If uranium is going to go then this stock is going to go.

(Market Call Minute.) Has been a pretty disappointing performer. Bad money for the next couple of years.

Good company and he likes uranium on a long-term basis but there are a lot of issues with uranium and nuclear energy. Political issues are going to be a headwind for a while. Could be dead money for a while.

Has been following and falling below the 200 day moving average.

Model price $25.90, above current valuation. It is going to go to $13.50, his EBV. Then he will see what happens. Thinks this is the bottom and would buy at that level.